, 1887-10-16
VERY D%ISC0URAGING.
The Cattle Market Still Tending
Downward.
Stockers and Feeders a Trife
Firmer.
Rangers Bought Freely By
Gamers and Butchers.
The Cattle Market.

Special Dispatch to The Leader.
CHICAGO, Oct. l5.-The cattle market
is still tending downward. 1t was thought
at the beginning of this week that prices
had at least reached a minimum point
below which they coald not be forced.
This, however, proves not to have been
the case. Good to choice beeves on the
early days held up fairly, owing to their
scarcity. Plenty of cattle were received,
but there was only here aud there a bunch
that would grade better than medium.
This state of affairs. however, did not
continue long. By the middle of the
week supplies of native beeves began to
show a rapid and unexpected increase,
and after that they comprised fully two
thirds of the daily offerings. Hence it is
no wonder hat intense depression pre-
vailed. All shipping stock, with the pos
sible exception of fancy, dropped l5c. be-
low the point sellers confidently believed
to be hard pan. At that reduction the
best lots were moved out with a reason
able degree Of prompitude, but the fact
does not afford much satisfaction so long
as the producer and shipper both are on
the high road to bankruptcy. And as for
common and medium grades, they are
nowhere. Prices for them are quoted 2Oc.
off, - but each night inds a considerable
number unsold, and it is difficult to say
just what reduction would be required to
clean the pens up In good shape.
Buyers are looking for continued full
receipts OF natives and are inclined to
hold off. Never in the history of the
trade was the situation so discouraging.
Two or three lots of premium and fancy
steers have sold as high as s.. 35C95. 40,
but these transactions in no way reflect
the general market. Indeed, there have
been exceedingly few sales at better than
81. so. though offerings include many
droves of fat l 400 to 900 pound cattle.
Big steers, if at all coarse, are neglected.
Exporters are not doing much just now,
and only u very moderate number of
heavy beeves can be handled to advant-
age.
The market for butchers and Gamers
stuff is no worse than before, neither is it
substantially better. Recent supplies are
a trltie light, and for good to choice cows
and fat bulls the feeling is firm. The let
up in the receipts of rangers causes more
Inquiries LOT natives. L OOT SIuU Is neg
lected, but sells quite as well as recently.
1t would be a pleasure to speak encour-
agingly of the near future of the market
for half fattened cattle, but unfortunately
there is no warrant for it. II the next
month sees any radical change for the
better it will be wholly unexpected.
Stockers and feeders are a trifle irmer
than last week. There is a diminished
supply, and good to best stock steers are
in demand. Most of the state lots have
now been worked off. Still the change
scarcely amount to an appreciable ad.
vance.
Rangers are freely bought by Gamers
and dressed beef men, but in spite of
some falling off in receipts buyers cannot
be induced to pay any quotable advance.
Good to best SORTS sell at previous quota
tons, and poor grades are slow at as low
prices as have yet prevailed. Cattle from
Montana, Wyoming, Dakota and Colorado
go at a range OF 81. 3OCG3 40, and Texans
fetch 81. 5O@2.OO for bulls and $2.OO@
40 for steers.